Gregory Russell
245 Carriage Lane
Roseburg, OR 97471
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About Gregory Russell
Gregory Russell is a Roseburg, OR based private lender. They offer loans in Washington. They offer loans for a variety of needs and situations, including hard money construction loans, fix-and-flip loans, private commercial loans, bridge loans, and cash out hard money loans. They provide loan amounts ranging from $25,000 to $250,000 with a maximum LTV of 50%. They do not require a minimum credit score to obtain a loan. They provide loans on most types of properties, including single family residences, multi family, apartments, office units, retail units, hotels, storage facilities, senior facilities, mixed use buildings, warehouses, industrial buildings, medical facilities, raw land, and churches.
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Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land, Church
Areas Served: WA
Licenses: Gregory M. Russell NMLS ID number 248980, Gregory M. Russell NMLS loan originator number 258423, Rachel H. Russell NMLS loan originator number 293655
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Lending Guidelines for Gregory Russell
Below are the general loan guidelines published on the Gregory Russell website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: $25,000 - $250,000
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 50%
Max Loan-to-Cost (LTC): 50%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: $25,000 - $250,000
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 50%
Max Loan-to-Cost (LTC): 50%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/ANew Construction Loans
Loan Amounts: $25,000 - $250,000
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 50%
Max Loan-to-Cost (LTC): 50%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/ARefinance / Cash Out Loans
Loan Amounts: $25,000 - $250,000
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 50%
Max Loan-to-Cost (LTC): 50%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/ABridge Loans
Loan Amounts: $25,000 - $250,000
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 50%
Max Loan-to-Cost (LTC): 50%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Gregory Russell.
Loan Example 1
Gregory Russell issues a fix and flip loan to Joanna for a rehab project in Seattle, WA, on a property that costs $280,000. Because the lender sets a 75% loan to value, Joanna will be required to put 25% down so the principle amount of the note will be $210,000. The loan also includes these features: 1) a 12 month term, 2) a 14% interest only note, and 3) a four percent origination charge.
Accordingly, the borrower will need to make a $70,000 down payment in addition to paying a $8,400 origination fee. The monthly interest only payments will then be $2,450 to Gregory Russell. If Joanna accomplishes her goal of a $406,000 total sales price when the loan term expires, she would collect a total profit of $88,200 after repaying the principle on the note and deducting the cash she paid at closing, the origination fee, and the monthly interest payments.
Loan Example 2
Gregory Russell issues a private money loan to Casey for a renovation project in Seattle, WA. The loan dictates the following:
a) A $180,000 sales price, b) a 75% loan-to-value (LTV), c) a 12 month term, d) a 9% interest rate, and e) a 3% origination fee.
Casey intends to list the house at the end of the term for $261,000. If she accomplishes her goal, the deal numbers will be the following:
$261,000 sales price
- $135,000 principle on note (75% LTV)
- $45,000 down payment (25% on 75% LTV)
- $4,050 origination fee (3% of the $135,000 principle amount)
- $12,150 total interest paid (12 months x 9% interest)
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= $64,800 gross profit (doesn't include taxes or renovation costs) -
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